Energy

Egypt is one of Africa’s main oil and gas producers, but it is also the continent’s largest consumer of energy. Both oil and gas are found throughout the country in multiple onshore and offshore regions, including the Mediterranean Sea, which is emerging as a major new gas basin. Nevertheless, sourcing enough supply to meet demand is the sector’s central challenge, even as these discoveries are expected to contribute significantly to meeting demand within the next few years. With discoveries in 2016 and the expectation of future upstream findings, Egypt is well on its way to addressing the supply side of its energy provision problem. Managing demand increases through subsidy cuts is a longer-term proposition, and Egypt is working to become a net energy exporter again.

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